Fundament to hold token sale for EUR 250 million in Germany: BaFin approves

Posted 23 July, 2019

Berlin-based blockchain company Fundament Group has got approval for token sale from Germany's Federal Financial Supervisory Authority (BaFin). The token sale campaign will be opened for both licensed and retail investors without funding limits.

The company reportedly received permission to issue a real estate-backed tokenized bond for public offering. The campaign is aimed at generating EUR 250 million investments. It will be offered token ERC-20 via which users can invest into construction of commercial real estate in Germany.

According to the available information, the project covers three sites – Hamburg, Frankfurt and Jena.

The token involves annual 4-8% dividends and payments upon the completion of the construction.

Notably, the company will hold the campaign without an investment bank as an agent striving to minimize the costs and undertaking all responsibilities.

The token sale will support bitcoin, Ethereum, US dollar and Euro. All investors will have to pass KYC verification before joining the event.

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23 July, 2019 16:53

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